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Short Take: Cypress Semiconductor beats Street

Cypress Semiconductor posted a fiscal second-quarter loss of $6.7 million, or 7 cents per share, beating Wall Street's consensus estimate by one cent. Cypress earned 7 cents a share in the year-ago period. Revenue was $119.7 million. The company also announced that it will shut a Minnesota wafer fabrication plant three months earlier than expected. The stock closed up 3 percent at 8.5.

Cypress Semiconductor posted a fiscal second-quarter loss of $6.7 million, or 7 cents per share, beating Wall Street's consensus estimate by one cent. Cypress earned 7 cents a share in the year-ago period. Revenue was $119.7 million. The company also announced that it will shut a Minnesota wafer fabrication plant three months earlier than expected. The stock closed up 3 percent at 8.5.